Millennium Management LLC grew its stake in shares of Envestnet (NYSE:ENV) by 47.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 260,154 shares of the business services provider’s stock after buying an additional 84,205 shares during the period. Millennium Management LLC owned 0.59% of Envestnet worth $12,969,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in ENV. Ameriprise Financial Inc. grew its holdings in shares of Envestnet by 33.8% during the third quarter. Ameriprise Financial Inc. now owns 127,868 shares of the business services provider’s stock worth $6,521,000 after purchasing an additional 32,310 shares in the last quarter. American International Group Inc. boosted its stake in Envestnet by 8.1% in the third quarter. American International Group Inc. now owns 28,889 shares of the business services provider’s stock worth $1,473,000 after buying an additional 2,161 shares in the last quarter. Legal & General Group Plc boosted its stake in Envestnet by 16.5% in the third quarter. Legal & General Group Plc now owns 18,188 shares of the business services provider’s stock worth $925,000 after buying an additional 2,576 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Envestnet by 10.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 204,030 shares of the business services provider’s stock worth $10,406,000 after buying an additional 18,533 shares in the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in Envestnet in the third quarter worth approximately $2,615,000. Hedge funds and other institutional investors own 93.20% of the company’s stock.
Envestnet stock opened at $55.05 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. Envestnet has a one year low of $33.95 and a one year high of $60.28. The firm has a market cap of $2,473.28, a P/E ratio of 62.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.76.
In related news, insider Anil Arora sold 7,109 shares of Envestnet stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $54.80, for a total transaction of $389,573.20. Following the sale, the insider now owns 96,386 shares of the company’s stock, valued at approximately $5,281,952.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shelly O’brien sold 3,000 shares of Envestnet stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $53.06, for a total value of $159,180.00. The disclosure for this sale can be found here. Insiders sold 63,767 shares of company stock worth $3,711,157 over the last three months. Insiders own 7.80% of the company’s stock.
A number of analysts have recently weighed in on ENV shares. Sandler O’Neill reissued a “hold” rating and set a $56.00 price objective on shares of Envestnet in a research note on Tuesday, April 10th. ValuEngine raised Envestnet from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Zacks Investment Research downgraded Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Envestnet has a consensus rating of “Buy” and an average price target of $55.11.
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Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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